0RQH Fagerhult Group Ab

HABO, Sweden, Aug. 30, 2021 /PRNewswire/ -- To strengthen and further develop our presence on the North American market the Fagerhult Group has acquired the remaining 30% shares in Sistemalux Inc.

Sistemalux is based in Montreal, Canada, and have a long-lasting business relationship with iGuzzini. Besides offering premium lighting solutions under their own brand, Sistemalux have been responsible for the successful introduction of the iGuzzini brand in the US and Canada. In 2020 the net sales was approximately 300 MSEK. In 2018, iGuzzini acquired 70% of the shares in Sistemalux and now we acquire the remaining 30%.

'We are looking forward to continue our journey in North America, a lighting market of similar size as the European market. Full ownership of Sistemalux allows us to further invest and build our presence on the North American market. This is a key strategic growth opportunity for us, and I am very happy to welcome all colleagues fully to Fagerhult Group', says Bodil Sonesson, CEO Fagerhult Group.

The process was completed August 30, 2021.

CONTACT:

For more information please contact:

CEO,  Bodil Sonesson, +46 722 23 76 02
bodil.sonesson@fagerhultgroup.com

CFO, Michael Wood, +46 730 87 46 47
michael.wood@fagerhultgroup.com

This information is information that AB Fagerhult is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 18:20 CET on August 30 2021.

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https://news.cision.com/fagerhult/r/to-strengthen-our-presence-on-the-north-american-market--the-fagerhult-group-acquires-the-remaining-,c3382319

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SOURCE Fagerhult